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Investors to overhaul student housing properties in Roswell


ROSWELL, N.M. — New York investors have plans to renovate student housing properties near Eastern New Mexico University’s campuses in Roswell and Portales as part of an effort to increase occupancy rates and boost residential real estate markets in the ...


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By: The Associated Press December 26, 2017 4:25 pm 0 ROSWELL, N.M— New York investors have plans to renovate student housing properties near Eastern New Mexico University’s campuses in Roswell and Portales as part of an effort to increase occupancy rates and boost residential real estate markets in the two communities. The Roswell Daily Record reports that Up Realty LLC, which includes Brooklyn real estate investor Gershon Eichorn, recently closed on a $3.75 million loan with Massachusetts-based lender UC Funds to finance the renovations. The units were between 50 and 60 percent occupied for the fall semester, and the process of converting unoccupied units has begun. Officials say the units are expected to be fully ready for leasing in the 2018 and 2019 school year. According to the lender, plans call for four-bedroom units to be renovated into one- and two-bedroom apartments.   Like this article? Gain access to all of our great content with a month-to-month subscriptionSPECIAL: Start your subscription with our low intro rate of just $14.95.  Share this:PrintFacebookLinkedInTwitterGoogle 4:25 pm Tue, December 26, 2017 The Associated Press Leave a Reply Cancel reply Your email address will not be publishedRequired fields are marked *Comment Name *Email *Website   #submit {display:none;} Latest Posts Apartment tower pitched for Edina Guitar Center site December 28, 2017 3:47 pm Chicago investor pays $37M for office-apartment complex December 28, 2017 3:44 pm Consumer Attorneys Target Filers of Mechanic’s Liens: How to Avoid Getting Sued August 22, 2017 2:30 pm 2017 a record year for apartment sales December 28, 2017 7:16 am By The Associated Press Zillow: U.Shomes gained $2 trillion in value this year How to keep a smart home safe from hackers A massive price tag to rebuild Iraq after Islamic State Fishermen fear forests of power turbines FEMA selling trailers despite victim demand All (7837) Editors’ Picks Our best, right now.Apartment tower pitched for Edina Guitar Center siteby Clare Kennedy | Dec28Chicago investor pays $37M for office-apartment complexby Matt MJohnson | Dec282017 a record year for apartment salesby Matt MJohnson | Dec28MN Snapshot: Loll Designs buys room to growby Anne Bretts | Dec28Land sale kicks off Crest Ridge constructionby Matt MJohnson | Dec27 Most Read Most-read stories: Week of Dec18 December 23, 2017 10:47 am Features Spotlight on Small Biz: Sironix Renewables December 25, 2017 7:00 am Building Blocks: TRIA Orthopedic Center December 15, 2017 7:02 am Spotlight on Small Biz: ‘Soundly’ app aims to put snoring to bed December 11, 2017 7:02 am Sustainable: MinnPACE helps finance efficiency projects December 5, 2017 7:02 am Nation & World Zillow: U.Shomes gained $2 trillion in value this year December 28, 2017 2:20 pm How to keep a smart home safe from hackers December 28, 2017 2:17 pm A massive price tag to rebuild Iraq after Islamic State December 28, 2017 12:52 pm Fishermen fear forests of power turbines December 27, 2017 4:21 pm FEMA selling trailers despite victim demand December 27, 2017 12:25 pm "); //]]>--> Get the Morning Memo Subscribe to F&C's free email alert and receive business news updates every weekday. Email Address * if (typeof(addRequiredField) != 'undefined') { addRequiredField ('form_0001_fld_0'); } if (typeof(addFieldToValidate) != 'undefined') { addFieldToValidate ('form_0001_fld_0', 'EMAIL'); } Twitter Buzz My TweetsMost-Read Content First & First properties drew over 100 suitors Finance & Commerce Reader Rankings 2017 2017 a record year for apartment sales Boomers, millennials in race for Twin Cities homes Daunting projects wrap up in 2017 Finance & Commerce Reader Rankings 2017 Wealth Management Special Section Experts Forum: How to Finance Mixed-Income Housing Cybersecurity Special Section jQuery(document).ready(function() { jQuery('#tie-slider-widget-4').flexslider({ animation: "fade", slideshowSpeed: 7000, animationSpeed: 600, randomize: false, pauseOnHover: true, prevText: "", nextText: "", controlNav: false }); }); .de-content { margin-top: 10px; } .de-content img { padding: 4px; margin: 0 8px 3px 3px; display: inline; border: 1px solid #cbcdcc; float: left; } Digital Edition The Digital Edition of Finance & Commerce is available to both print and online subscribers. Current edition "); //]]>--> My Account LOG IN SUBSCRIBE MANAGE ACCOUNT PRIVACY POLICY SUBSCRIBER AGREEMENT Recent Posts Dec29, 2017 Digital Edition Apartment tower pitched for Edina Guitar Center site Chicago investor pays $37M for office-apartment complex Zillow: U.Shomes gained $2 trillion in value this year How to keep a smart home safe from hackers Finance and Commerce ABOUT CONTACT US ADVERTISE REPRINTS FREQUENTLY ASKED QUESTIONS See more information and instructions on how to setup the tag on: http://google.com/ads/remarketingsetup ---------------------------------------------------> /* */

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